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20120723
20120723
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CNBC 11
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CNBC
Jul 23, 2012 4:00am EDT
in the foreseeable future. >> all right. stephane, thanks for that. joining us now for the first half of today's program, will oswald. thanks for joining us. how quickly is this unraveling? what's the next stage of this story? >> one of the things that we've been talking about for really some time now is that globally we're talking about something that looks a bit like a deleveraging black hole. what we mean by that you got across multiple different economies both in the private and public sector you got very large amount of debt levels that you need to bring down but of course over multiple years. this idea that we can get some quick adjustment, we have the process that goes through, everything is moving forward isn't going to happen. so when we look at a country like spain, if we look at it on a standalone basis, what can we do, looking at it in isolationist is the wrong way. spain is not sustainable. this is a workout process on a multiyear horizon. what provides you to step over "from the edge" is support whether it comes from the troika, they are going to greece this week, the ecb steppin
CNBC
Jul 23, 2012 5:00pm EDT
street for the bulls. the realtime exchange. >> and for good reason. globalization has made us all the same. >> the company came out with their second quarter numbers. it was $1.32 a share and that was five cents below what the street had been expecting. >> as the bears may be shopping for more shorts, the team have the trades to stop them in their tracks. fresh from the trading floor, this is fast money. >> live from the nasdaq market site in new york city's market square. you want to go straight to mary tompson. moody's revising lower their outlook for germany. mary? >> that's right. included in that the netherlands and luxembourg. and here is the reason why. moody's said the rising uncertainty about the outcome of the european debt crisis and increase in event risk led to an increased possibility that greece will lead the euro is one reason it is lowering its outlook for these countries. in addition, they think any kind of knock on effect of the weaker economies will result in the aaa rated sovereigns taking on a greater burden dealing with the european debt crisis. that happeni
CNBC
Jul 23, 2012 4:00pm EDT
and the economy pushed down stocks more this week. with us today larry from barclays. ryan jacobson from wells fargo advantage funds. bob, what do you think? where do we go from here? what are we to make of today's big drop at the open? then this -- bit after comeback. >> well, what you saw today was classic tug of war between the macro economic issues of europe and in contrast with the solid fundamentals we saw on the corporate side last week. early in the day macro economic issues were ruling but we saw some resilience later in the day reflecting the solid valuations at earnings for the most part we have been seeing. >> were you a buyer or seller today? >> well, when the s&p 500 is around 1350 that's actually my target for the end of the year. i don't necessarily view this as a buying or selling opportunity. i think that it is an opportunity for people to just reallocate amongst the various sectors and in this environment i actually really like energy stocks especially those big integrated oil companies that have a lot of cash. i think investors should rationally be looking at that as an opp
CNBC
Jul 23, 2012 6:00am EDT
bailout. the u.s. equity futures at this point, take a look. dow futures down by almost 140 points. the u.s. trezy success seen as a safe-haven. we saw that hitting record low yields and more on that in a moment. >> let's get through some of the other news this morning. some big news. u.s. prosecutors and european regulators are reportedly close to making libor arrests. reuters is saying individual traders will be charged with could lewding to manipulate global benchmark interest rates. and rake taking himself out of barclays chairman job. barclays is looking for exalternative jam candidates, shares falling on this news this morning. in other corporate headlines, nrg energy buying rifle genon. nrg ceo david crane will join us at 7:00 a.m. eastern. you don't want to miss that. and nasdaq plans to pay out $62 million in cash, this is controversial to firms that lost money in facebook's bungled ipo. it modified an earlier plan for market makers and other exchanges. the new plan is $22 million larger. the biggest difference the compensation will be paid in cash rather than trading credits for r
CNBC
Jul 23, 2012 6:00pm EDT
to focus on the losses europe gives us every morning. they could care less that this might be the moment to buy the all american petsmart. they don't want to use the sell-off caused by spanish bond yields to get into ross stores even though it isn't even in this country let alone nothing in europe. it feels like you were taking your life into your hands. can you take a shot at colgate let alone invest in it. tomorrow might bring a story about sicily or catalonia. check your maps. google them. is it too early to buy j & j with restructuring ahead, coca-cola though they are only down 15 cents today? no. if you let your screen drenched in red and the action of spain take over your brain renting space telling you to stay the heck away from all stocks because the world is ending, you aren't thinking about buying petsmart, johnson & johnson, colgate, ross stores or coke. no. you could care less. it's a recipe for panic, not opportunity. uh used to turn my screen off days like today and just pick stocks. people don't do it anymore. what do they do? pass on the lows of the day europe generated o
CNBC
Jul 23, 2012 9:00am EDT
. >> thanks. >> really appreciate it. >> make sure you join us tomorrow. "squawk on the street" begins right now. >>> good morning. welcome to "squawk on the street." i'm mel can a lee along with carl quintanilla, and cramer. we're bracing for what could be a massive selloff. s&p looking to lose 19 at the open and dow jones 200 and nasdaq about 42. the reason behind the selloff in the future, worries about spain's debt situation and greece continue to weigh on the futures, and, of course, get this straight because the selloff really began in china overnight. shanghai stocks closing at the lowest levels since march '09. it carried over here into europe with the dax now down by 3%. red arrows across the board. >> amazingly it was a lot worse this morning. the road map begins in europe. the biggest intraday loss in the markets as reports suggest imf may refuse more bailout payments for greece. euro era highs as the country bans short-leg. >> mcdonald's misses for the first time in two years because of fx headwinds. shares are trading sharply lower with a disappointment soaking concerns of other
CNBC
Jul 23, 2012 7:00pm EDT
guest this evening, former house majority leader dick armey joins us. tonight, the dow drops 101 points easing off an early cliff dive. cnbc's brian shactman, what happened? >> when the dow is down a hundred points you characterize it as ugly. when the low is 200 it doesn't feel disastrous. everything revolved around europe. when europe closed the selling pressure eased. the biggest down story was mcdonald's, disappointing earnings now down double digits for the year. larry, back to you. >> thank you very much, brian. we'll get more expert analysis coming up. >>> another exclusive tonight, the treasury inspector general who oversaw the whole t.a.r.p. bank bailout thing is going to be here to expose what he calls a rigged system that favors wall street banks over main street taxpayers. we begin with my one on one exclusive interview with republican nominee mitt romney. america is at a crossroads. president obama tonight releasing a new ad taking a left turn saying americans have a choice. i believe the country wants a right turn, not a left one. we begin by discussing the horrible incide
CNBC
Jul 23, 2012 12:00pm EDT
.8%. that does it for us here on "squawk on the street." it's wapner and the "fast money halftime report." >>> the s&p 500 heat happen, let's go inside the major averages now. the dow working on its eighth straight monday decline. here we stit sit down 140 points. that's a loss of more than 1%. we've saved about 100 points off the worst levels of the dow. here's gold, crude oil, weaker today as well. watching the ten-year treasury. there it is. 1.43. historic lows for many treasury yields today. here's what we're following on the "halftime" show today. is getting short the best way to play the market selloff? and should you sell before a company reports? find out if that's the winning trade this earnings season. and ahead of apple's results tomorrow, we're trading the tablet revolution, a game changer for numerous industries. and we look at which chip stocks may be your best buys. welcome to the "halftime" show. let's talk about the selloff. europe, front and center again. >> yeah, and i think what's notable is that gold isn't working in that context. and you would think if today's sello
CNBC
Jul 23, 2012 3:00pm EDT
of the 17 countries right now that are using the euro are already in a recession. then you look at those economic super powers. such as china, brazil, india. they are slowing down. obviously we have our own domestic concerns. it is not just as simple as that. because there already a number of other land mines that are out there, that traders are worried about it. we have to wonder what's the next shoe to drop. that's why you have markets down today. >> we have been talking about that for weeks. we have been asking that same question for weeks. and yet, after a sell-off the market seems to recover as i said last week we are talking about the possibility of hitting dow 13,000 again. yet stu, you remine defensive. todd is defensive. does anybody like equities now? >> so -- yeah. we are defensive but i have to say we are also look to take advantage of lower prices if we get a pronounced sell-off. and add risk to client portfolios. we have been avoiding european risk to a great extent for 2 1/2 years now. and europe is a whole lot cheaper. yeah, they have their problems. yeah, the cycle of su
CNBC
Jul 23, 2012 2:00pm EDT
down on research in motion. that's right. you heard us. doubling down on rim. hello, everybody. catch mandy on "closing bell" today so here's your scoreboard. we're down eight mondays in a row now. the longest down monday streak in a decade. do you need a silver lining? if so, up more than 100 points off the lows of today. still, even with that, all three major averages seeing the biggest intraday drops in a month. all three have now gone negative for the month of july. wiping out the gains from the 23rd or 23rd of the year? the month i guess, yeah. check in with bob pisani. this kind of summer. help me out with something else which is this. a couple of days, not saying everything was fantastic but didn't have the renewed fear. we go to bed last night. wake up. all of a sudden greece, spain back in the head loons. when's happened? >> i'll make it simple for you. if spain has to go far full-blown bailout, in addition to the banks, that means italy's in play and that means the europe breakup is much more likely. they have to give spain money without a full-scale bailout request and that
CNBC
Jul 23, 2012 1:00pm EDT
. tyler, we'll see you later. steven, thank you for joining us today. we want to dig deeper. on friday, we'll get new growth numbers and by just about all accounts they will not be so good. that's the economic data. steve liesman working on that. but first, to the euro zone crisis and michelle caruso-cabrera. >> tyler, we saw the european stock markets sharply lower today. they also moved off the lows like the u.s. did. however, really deep selling, especially in greece today. and we've seen deep, deep selling in both spanish treasuries and also now italian treasuries, as well. seeing the yields rise very sharply and once again investors apparently abandoning the debt of those countries. two key reasons that a lot of folks are focusing in on. why would this be happening when a bank bailout for spain was approved just last week? this bailout was supposed to separate the sovereign risk, ie the country risk from the bank risk. in other words, the money given to go to banks, wouldn't add to the spanish gdp to debt ratio but reading through all the paperwork, spain will still be on the hook for
Search Results 0 to 10 of about 11